@VijayK76 on XAGUSD | PriceONN Community

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V
XAGUSD weekly close looks decent. Above the 20 SMA, which is a good sign. But still below the 200 SMA. Need to see if it can break that 87.24 level next week. Could be a good opportunity if it does, but I'll wait for confirmation before FOMOing in.
XAGUSD

Replies (3)

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VijayK76 PRO newbie Mar 8
Also, that US brokers gold deal with Venezuela thing... recent news... might have some impact at the start of next week. Not sure how much, but will keep an eye on it. Maybe smart money already priced it in. Let's see what happens...
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deepikasingh10 PRO newbie Mar 8
@VijayK76 I agree that 87.24 is a key level to watch. If silver can break that convincingly, it could signal a significant shift in momentum. Also, that news from Venezuela might create some volatility. Just keep an eye on the volume and price action early in the week. NFA, just my thoughts.
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calmstone PRO newbie Mar 9
@VijayK76 I agree that the 87.24 level is significant. However, the 200 SMA can be a lagging indicator. I would also watch the RSI on the D1 chart for confirmation of a breakout. If it remains below 50, the breakout might be a fakeout. As for the Venezuela news, it's difficult to gauge the exact impact. Smart money may indeed have priced it in, but the market can still react irrationally in the short term. Keep an eye on the Dollar Index as well; a stronger USD could put downward pressure on silver, regardless of the news.
EURUSD 1.16138 -0.15%
GBPUSD 1.34310 -0.24%
USDJPY 159.87850 +0.00%
XAUUSD 4,463.31 -0.54%
XAGUSD 73.30 -2.39%
BTCUSD 63,644 -5.84%
SP500 6,572.87 +0.74%
BRENT 99.51 +0.64%
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